| |
|
ASSETS |
| |
2007 |
2006 |
| |
|
|
|
Utility Plant, Property
and Equipment at Cost |
| Net of Accumulated
Depreciation |
$310,497,834 |
$294,750,131 |
| |
|
Restricted Cash and
Investments |
| Cash and Cash
Equivalents |
3,497,830 |
5,975,261 |
| Federal Agency
Securities |
973,981 |
5,318,000 |
| U.S. Treasury
Notes |
0 |
0 |
| Total Restricted Cash and
Investments |
$4,471,811 |
$11,293,261 |
| |
| Current
Assets |
| Cash and Cash
Equivalents |
38,607,485 |
36,509,996 |
| Accounts
Receivable |
2,225,673 |
2,268,846 |
| Material and
Supplies Inventory |
454,773 |
460,317 |
| Prepaid Expenses |
483,533 |
342,574 |
| Interest
Receivable |
171,271 |
184,170 |
| Surcharges
Receivable - Current |
356,661 |
337,745 |
| Other Receivables |
17,483 |
12,238 |
| Total Current Assets |
$42,316,879 |
$40,115,886 |
| |
| Other Assets |
| Bond Issuance
Costs |
3,402,691 |
3,601,078 |
| Utility Deposits |
257,347 |
241,667 |
| Surcharge
Receivable - Noncurrent |
13,999,339 |
14,168,048 |
| Total Other Assets |
$17,659,377 |
$18,010,793 |
| |
|
|
| Total Assets |
$374,945,901 |
$364,170,071 |
| |
|
| |
| MEMBERS'
EQUITY AND LIABILITIES |
| |
2007 |
2006 |
| Members' Equity |
|
|
| Members'
Investment Certificates |
4,205,271 |
4,205,271 |
| Contributed
Capital |
66,345,563 |
59,542,684 |
| Retained Earnings |
114,309,692 |
108,216,652 |
| Total Members' Equity |
$184,860,526 |
$171,964,607 |
| |
| Long-Term
Debt |
| Note Payable -
Line of Credit |
18,068,909 |
13,090,802 |
| Revenue Bonds,
Series 2000 |
9,328,952 |
9,878,343 |
| Revenue Bonds,
Series 2001 |
15,334,911 |
16,462,721 |
| Revenue Bonds,
Series 2002B |
27,215,302 |
27,917,379 |
| Revenue Bonds,
Series 2003 |
16,831,991 |
16,824,930 |
| Revenue Bonds,
Series 2004A |
29,246,479 |
29,758,629 |
| Revenue Bonds,
Series 2004B |
26,160,000 |
26,160,000 |
| Revenue Bonds,
Series 2006 |
20,259,182 |
21,761,863 |
| Deferred Surcharge
Income - Noncurrent |
13,999,339 |
14,168,048 |
| Other Long Term Obligations |
39,391 |
0 |
| Total Long-Term Debt |
$176,484,456 |
$176,022,715 |
| |
| Current
Liabilities Payable From Restricted Assets |
| Accrued Bond
Interest |
993,063 |
1,062,228 |
| Long-Term Debt -
Current Portion |
4,410,000 |
4,375,000 |
| Total Payments Payable
From Restricted Assets: |
$5,403,063 |
$5,437,228 |
| |
| Current
Liabilities |
| Accounts Payable |
2,754,285 |
4,187,378 |
| Accrued Line of
Credit Interest |
3,073 |
159,536 |
| Retainage Payable |
2,060,472 |
3,311,218 |
| Customer Deposits |
2,308,585 |
2,155,497 |
| Other Current
Liabilities |
714,780 |
594,147 |
| Deferred Surcharge
Income - Current |
356,661 |
337,745 |
| Total Current Liabilities |
$8,197,856 |
$10,745,521 |
| |
| TOTAL LIABILITIES |
$190,085,375 |
$192,205,464 |
| |
|
|
| TOTAL MEMBERS' EQUITY &
LIABILITIES |
$374,945,901 |
$364,170,071 |
| |
|
|
|
